A Quick Look at Atlantic City

Atlantic City: Under the Boardwalk ..
by Courtney Ronan

Are you a people-watcher?  A great place to do that is in Atlantic City.  Here, people come to take a chance on luck, to enjoy great entertainment, or to take a stroll on the legendary boardwalk.   And although gambling is the mainstay for Atlantic City, the city itself is working at reshaping its identity.  There’s a new revitalization going on in some of its older neighborhoods, and the goal is to create a city resembling your every day hometown.

However, the element that brings over 35 million tourists to Atlantic City every year is the casinos.  It’s one of the most frequently visited destinations in the United States today, and many people stop for a visit on their way to or from someplace else.

Read the complete article here.

Baby Boomer Survey Shows Big Appetite for Real Estate

By Walter Molony at the National Association of REALTORS®

Those people born between 1946 and 1964, otherwise known as “baby boomers,” have a higher rate of home ownership than the national average.  25% of baby boomers own more than one property, and although they are excited about the future, many aren’t properly prepared for their own retirement.

However, baby boomers know the value and benefit of owning real estate, and since they are in their peak earning years, many of them are taking advantage of it.  Owning a home is a great investment, and people today are buying multiple properties – to rent out, as investments, etc.

The Second-Home Market Accounted for 4 out of 10 Home Sales in 2005

The last two years have been records for second home sales, according to the National Association of Realtors®. Many consumers today believe that housing a good investment with vacation homes making up 12% of all home sales.  Did you know that there are over six and a half million vacation homes in the United States?  Many of these homebuyers purchase vacation homes dependent on their lifestyle.  They want a “getaway” home or a peaceful retreat, and the last thing on their minds is renting it out to someone else.Once again, the baby boomers tend to make up the majority of second home buyers.  Because of this demand for these vacation homes, the demand for them is expected to stay strong for years to come.

Read the complete article here.